APA vs PEO: Correlation
How closely do APA Corporation (APA) and Adams Natural Resources Fund, Inc. (PEO) trade together? Their weekly returns over three years give a correlation of 0.79, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APA and PEO?
Over the past 3 years, APA and PEO moved with a correlation of 0.79, which is strong. The relationship has been stable: the 1-year correlation (0.75) sits close to the 3-year figure. Over 5 years the correlation is 0.83, and the annualized covariance of weekly returns is 665.5 %².
Within APA's tracked universe of 43 assets, PEO comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months APA outperformed by 52.5 percentage points (+94.1% for APA against +41.6% for PEO). One caveat on sizing: APA is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
APA vs PEO: side by side
| APA (APA Corporation) | PEO (Adams Natural Resources Fund, Inc.) | |
|---|---|---|
| 1-year return | +94.1% | +41.6% |
| 5-year return | +164.2% | +179.3% |
| Volatility (ann.) | 41.8% | 20.2% |
| Beta vs S&P 500 | 0.38 | 0.30 |
| Max drawdown (3Y) | -67.4% | -18.9% |
| Market cap | $14.8B | $0.8B |
| P/E (trailing) | 8.7 | 4.8 |
| Dividend yield | 2.43% | 7.09% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | APA | PEO |
|---|---|---|
| 2022 | +76.4% | +41.8% |
| 2023 | -21.2% | +0.9% |
| 2024 | -33.4% | +13.6% |
| 2025 | +11.5% | +10.0% |
| 2026 | +77.3% | +38.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APA and PEO good diversifiers for each other?
Only partially. A correlation of 0.79 means APA and PEO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between APA and PEO?
The APA/PEO correlation stands at 0.79 on a 3-year window (1 year: 0.75, 5 years: 0.83), computed from weekly returns as of 2026-08-27.
Is PEO a good diversifier for APA?
Only partially. A correlation of 0.79 means APA and PEO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.79 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/apa-vs-peo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/apa-vs-peo/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: APA correlations · PEO correlations
